# The Licensing of Air Carriers Regulations 1992, Regulation 15: Operating licences


(1) The CAA may require, for the purpose of granting an operating licence in accordance with the Council Regulation, proof that the persons who will continuously and effectively manage the operation of the undertaking are of good repute and that none of them is an undischarged bankrupt.
(2) The CAA may suspend or revoke an operating licence in the event it is satisfied the holder is not a fit person to operate aircraft under the authority of that licence by reason of serious professional misconduct or a criminal offence.

---
Source: https://www.legislation.gov.uk/uksi/1992/2992/regulation/15 (the official version)
Page: https://openlegislation.uk/licensing-of-air-carriers-regulations-1992/regulation-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.